Texas Capital Bancshares, Inc. (NASDAQ:TCBI) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its position in shares of Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 570,839 shares of the bank's stock after purchasing an additional 10,171 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.24% of Texas Capital Bancshares worth $40,792,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC raised its position in Texas Capital Bancshares by 87.0% in the 2nd quarter. AQR Capital Management LLC now owns 1,087,715 shares of the bank's stock valued at $65,219,000 after purchasing an additional 506,094 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Texas Capital Bancshares by 43.8% during the second quarter. American Century Companies Inc. now owns 562,507 shares of the bank's stock worth $34,392,000 after buying an additional 171,263 shares during the period. Segall Bryant & Hamill LLC grew its holdings in shares of Texas Capital Bancshares by 12.6% during the third quarter. Segall Bryant & Hamill LLC now owns 467,001 shares of the bank's stock worth $33,372,000 after buying an additional 52,095 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in Texas Capital Bancshares by 11.2% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 381,462 shares of the bank's stock valued at $23,323,000 after acquiring an additional 38,393 shares during the period. Finally, Millennium Management LLC raised its stake in Texas Capital Bancshares by 146.7% during the 2nd quarter. Millennium Management LLC now owns 372,370 shares of the bank's stock valued at $22,767,000 after acquiring an additional 221,454 shares during the last quarter. Institutional investors and hedge funds own 96.88% of the company's stock.

Insiders Place Their Bets

In other news, Director Robert W. Stallings acquired 20,000 shares of Texas Capital Bancshares stock in a transaction dated Tuesday, October 22nd. The shares were acquired at an average cost of $21.28 per share, with a total value of $425,600.00. Following the purchase, the director now directly owns 84,587 shares of the company's stock, valued at approximately $1,800,011.36. This trade represents a 30.97 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.53% of the company's stock.

Texas Capital Bancshares Price Performance

Shares of NASDAQ TCBI traded down $0.59 during trading on Tuesday, reaching $88.05. The company had a trading volume of 225,798 shares, compared to its average volume of 429,074. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $4.07 billion, a PE ratio of 489.61, a price-to-earnings-growth ratio of 0.84 and a beta of 1.14. Texas Capital Bancshares, Inc. has a twelve month low of $54.68 and a twelve month high of $91.80. The stock has a 50-day moving average price of $79.64 and a two-hundred day moving average price of $68.82.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The bank reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.65. The company had revenue of $304.91 million for the quarter, compared to analysts' expectations of $279.64 million. Texas Capital Bancshares had a net margin of 1.40% and a return on equity of 8.06%. As a group, sell-side analysts predict that Texas Capital Bancshares, Inc. will post 4.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. StockNews.com raised Texas Capital Bancshares from a "sell" rating to a "hold" rating in a report on Wednesday, November 6th. Hovde Group boosted their price target on shares of Texas Capital Bancshares from $73.00 to $79.00 and gave the stock a "market perform" rating in a research note on Friday, October 18th. Raymond James upgraded shares of Texas Capital Bancshares from a "market perform" rating to an "outperform" rating and set a $78.00 price objective for the company in a research report on Tuesday, September 17th. Wedbush reiterated a "sector perform" rating on shares of Texas Capital Bancshares in a research report on Friday, October 18th. Finally, Piper Sandler downgraded Texas Capital Bancshares from an "overweight" rating to a "neutral" rating and lifted their price target for the company from $77.00 to $82.00 in a research note on Friday, October 18th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $74.00.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc operates as the bank holding company for Texas Capital Bank, is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs, and individual customers. The company offers commercial banking; consumer banking; investment banking solutions, including capital markets, mergers and acquisitions, and syndicated finance, as well as financial sponsor coverage, capital solutions, and institutional services; and wealth management services, such as investment management, financial planning, lockbox and insurance, securities-based lending, estate planning, and business succession, as well as philanthropic, trustee and executor, custom credit, and depository services.